How financial and personal pressure took a toll on an entrepreneur:
"Before the fundraising, Sherman would push himself and others to raise as much money as possible for their businesses. After the financing closed, he began referring to venture capital as a 'fraud' and a 'sham.'
"Employees could tell something was off when Sherman announced the financing to the team.
"'He said, "This is one of the hardest things I've ever had to do. And I hope to not have to raise more money for a very long time,"' a source recalls.
"Another source also recalled Sherman saying something alarming about this last round:
"'He said, "I had no business raising that last round of financing. I hadn't made our metrics or our terms—not anything near it. But I got it done."'"
PUBLISHED: April 5, 2013
LENGTH: 17 minutes (4430 words)